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Assignment 1
Some of our citizenry believes that the recession is "man-made" because greedy "wall-street" people (and corporate bosses) tried to make money by peddling risky investments...coupled with a selfish accumulation of personal wealth without regard for the potential negative economic impact. It was report that 18.4 billion dollars ($18,400,000,000) in bonuses was paid out to "wall street" people. Ironically, the pay-out money was siphoned from the bailout money (provided by the U.S. tax-payers). Some feel that this action amounts to "Financial Treason" at a time when many of our companies are on the verge of extinction.
Your assignment is to get to know some of the "key players" and render an opinion regarding the above-mentioned information.
Assignment - Part 1 - Write a brief profile on each of the following individuals....and include their contribution to the current economic situation (positive/negative/neutral?):
1. Richard Fuld, former CEO, Leman Brothers
2. Allan Greenspan, former Federal Reserve Chairman
3. Robert Rubin, former CitiGroup Chairman
4. Angelo Mazilo, former Country wide CEO
5. Jimmy Cayne, former Bear Stern CEO
6. John Thain, Merrill Lynch CEO
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*** *** from Stern ****** ** ******** ** *** **** ** **** ** ******* *** profession **** ****** Brothers ** **** *** ****** ** *** ************ ***** *** *********** He started as a ******** ***** ******** *** **** ******* to *** CEO position ****** ****** ** the ************ *** * long time ** ******* *** saw ******* advancements ***** *** *********** ********* ************* its amalgamation **** **** **** its ************ with ** ****** *** ********* by ******** Express and its ********** ***** *** from ******** ******* ** the *** ** *** day as ****** ****** **** was *** **** **** ******* CEO on Wall ****** among *** season ** ********* emergency ** 2008 having ****** as CEO since **** to *** ****** ** *** ************* breakdown **** *** ********** ****** ********** through *** ********* ******
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1997 * phase ***** the ****************** ********** **** went down ** $22 ** 1998 Lehman *** ** ******** ********* ** $102 million ** **** yet **** **** *** ** ** Chief ********* ******* the ************ *** ******** ******* years ** ******** ******** **** one of *** ******* ** **** despite the **** that ** *** **** **** ** reported * **** *** ********** *** ********** **** ********** **** *** ********** ** ******* up *** ************ profit ******* *********** ****** and ****** **** had a *********** ***** him ********* alluded to ** ***** working ******* *** *** president *********** ****** *** in power ** ** ******** **** **** ** mislaid * ***** battle with *** ********** as ** *********** of him ****** an escort ***** ****** Fuld's ********* principles on ****** ******* *** ********* ****** * ******* and ******* **** **** named ******* in 2002 ** *** ** Jack *** downgraded to *** ********* ** the top ******** ** **** *** **** ** the following year **** * partition bunch ** **** ****** ******* **
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****** ******* ****** the ******** ** *** *** ********* Gregory *** ********** ** **** *** was ********** by **** ****** * man who might *** ****** ******* *********** The ******** ******* **** *** *** *** ** *** ******** area ** America ****** *** **** time **** ******** that *** ******** ** was alive *** ************ **** by ** ***** ** purchased He ****** ** ** Barron's rundown of *** ** **** ********* **** in March 2008 and *** named ******** ******* Street" Fuld ******* ********* dependability ** ********* ******** *** *** ****** his *** by *********** ***** a *** ** *** ****** ******** to the **** *************** ********** offers ** ***** Fuld got ******** *** ****** ***** **** of *** ********** subprime contract ********* **** ** *** **** to have ******* ****** of *** ******** ** ** ******* ******** ****** and *** ************ for Lehman's **** **** **** guaranteeing ******** ** *** **
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*** the best ever serving *** leader ** Wall Street and ******** *** ********** as *** ******** ******** ********* ******* **** Fuld ** rebuked *** *** ********** ****** **** ***** have *********** *** **** ***** **** ********** ****** *** ***** ** found ** *** bank The New **** magazine had ** ********* *********** ***** *** CEO *** they ********* that **** *** ******** ******* **** * ********* amid *** **** spring *** *************** ******** ** ****** ** CEO ** encourage *** ***** of *** ******* ** ******* 2008 ** got a fantastic jury ********* ** association **** ***** ******** ************ ********** **** *** ******* securities extortion ********* **** *** breakdown ** *** ***** Allan ********* is an American ********* expert ********* ** ***** * **** ** served ** ******** of *** ******* ******* ** the ** **** 1987 ** **** He *** ***** ******** ** four distinct Presidents ********* was ********* in New York **** **
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his ************** master's *** doctoral ******* in ********* matters all from New York ********** ****** ******* his ********* he ************ ** ********* matters ** ******** University ** *** mid ***** ***** ****** Burns *** ***** later *** ** ** ************* ** *** ***** of Governors *************** ***** ********** ** **** was with *** ******** Industrial ********** ***** * ********** *********** ***** ** ******** ******** for ***** ******** and ****** **** **** ** **** *** **** 1977 ** **** ********* was administrator and president ** ****************** *** ** *** *
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analysis ******* ** *** **** **** **** **** ** 1977 ** ****** ** ********* ** *** *************** Council ** Economic ******** ***** President ****** **** *** from **** ** 1983 ** ************* ** the ******** Commission ** ****** Security ****** *********** ** ****** ** ** ********** **** ********* Ronald ************ Economic ****** ******** ***** *** *** * ********** ** *** ************* ****** ******* **** after expecting ****** ** ********* of the ***** ** Governors ********* was ********** **** *** ******* **** ********** ******** ***** *** acted ******* ** guarantee ********* ** *** business ******* Amid *** residency he ************ ***** *** ******* ******* through * *** ********* ****
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monetary ************* ********* two ** ********** *** ***** ***** ******* ********* ** **** and *** ********* ** **** terrorist ******** He *** ********* *** being ************ ******* ********* ************* **** ** *********** costs than on ********* **** ******** ******** *********** ********* *** *********** *** longest ********* ******** ********* ** US ******* ** was ************ ***** *** *** ******** ** ******** accord ***** *********** **** the ******* Open Market ********* ** ******** ******* ****** ***** ** an ******** ****** conceived ** August ** 1938 Long dynamic ** ***** ******** undertakings ** ***** ****** *** ******* ************** ** **** ** ********* to the ********* for ******** ****** *** ** ******** of *** ******** **** National ******** ******* ** *** ***
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facilitated ******** approach ********* ** *** ********* *** ******** *** ********* ** the *************** financial *********** ********** In ******* **** ** ***** *** selected ** our country's **** ********* of *** ******** He served *** four and **** ***** until **** **** ***** ** *** ******** ** ********* *** ********** spending ***** ******* exchange ******** ** further ************** ****** ** **** ******** *********** ** ****** **** *** ******* *********** the impasse **** ******* society ********** ********* and managing sensible ******* at the Internal Revenue ******** **** **** ** **** ** Rubin ****** as ** ********** **** the ***** ** Directors ** ********* *** ** * senior ********** to *** ************ ** **** ***** ** ****** ******* with *** association's ********* ****** *** globe ***** ** **** as *** adoptive ****** ** Democratic
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arrangement that ******** ************ ***** *** *** ***** ******* ********* *** *** disappointment of ***** to **** ****** against **** Street ** its ****** Numerous ************ ****** *** ********** Party's ******** ** **** ****** **** to Rubin ****** ****** *** conceived ** New York ** 1960 ** got * ********* of Science ****** from ******* University ** *** *** ******** ***** David * **** *********** a *********** ****** ******** in *** York ***** *** foremost *********** *** * ******* in the ****** *** ****** ********
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industry ****** was ************* ******* with *** ****** ** credit ********* *** the nature ** ***** ******** ** the point when subprime ******** **** **** the ***** ** *** **** ***** *** 1990s *** ************ *** *** ******* He secretly ******** the subprime ******* nonconformists ** *** ***** as ****************** ** any **** *** organization ******* ** **** business ** *** ******** ************ ** ****** ** ***** **** or continue ****** piece ** the ******* ******** (Hardt and ***** ***** ** **** *** by the mid 2000s Countrywide started ********* ******** credits Mozilo *** come ** ******** *** ***** for *** subprime ******** emergency CNN named *** ** *** ** *** *** **** needed ****** parties ** 2008 money related ********* ** *** United ******* ************ *** **** the ****** ****** ******* **** of ********* ***** **** under examination His ********* ************ drew ****** **** ******* ****** ******** ****** *** ** ********* ** ********* calling reports ** ***** compensation ** horribly ************** ** **** ********* *** ******** ** **** they **** millions **** ****
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***** a while he **** * **** ****** of ******* ** stock ******** *** ******** ***************** assets ** ******** ***** to bolster the ***** **** ** *** ******* ** insider ********** *** security ********* ** **** Mozilo consented ** ****** $675 ******* ** ***** *** acknowledged * lifetime *********** **** ******* ** * chief or officer ** any **** ************* James ***** ** an ******** representative ********* in ******** ** **** He ** * ******** ***** Executive ******* of **** ****** ** turned **** *** **** **** ****** **** ** ***** an ************ ***** worth **** than ** ******* ** **** ******* he lost *** **** ******** ** **** **
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********* ** **** ****** ***** *** sold *** whole ***** ** *** ************ for *** million ** turned into the ********* in **** CEO ** **** *** ******** ** *** Board ** **** ***** ** *** ******* *** ******** ** *** ** *** **** the ******* of ********* press ******* since Bear ********* ********* *** way that ** sold *** stake in *** organization *** *** ******* ***** *** accident ** ** assessed that *** estimation ** *********** ******** *** ******* to ***** *** ******* ************ ********** expelling *** **** the ******* ** *** ********** people ** *** ****** Stick sold *** ***** ***** in Bear ****** **** than *** ******* ****** *** ***** ** offer *** **** *** sold before
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vote ** the ************* offer ** JP Morgan *** Bear ****** ** *** ***** ** the ******* of ** *********** ** ***** *** *** ***** ******* emergency ** Time ********* John ***** ** an ******** representative ********* ** *** 26 **** ** ** ************ * venture ********* *** previous ******** and *** ** Merrill ***** ****** *** merger **** **** ** ******* ******* ***** He was ********* ** ******* **** ***** * *** *********** *** ******* *** *********** at ******* ***** which
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** ** *** expansive **** ********** assessed *** *** ***** ** *** ******* official ******* He *** ** ** ***** ******** ** ******* ***** in **** ** the **** ** was confronting mounting hardships identified **** its ************ ** contract sponsored and other awful *********** *********** *** ******* ****** CEOs ********* ***** *** * **** ** **** ** *** ******** sector ** the United State ** America Their involvement ** ******* ***** ********** *** affected *** ******* ** a negative *** The ******* **** ** **** ****** people ******* ***** ****** in *** ******* ** *** ****** ****
paid
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tax ************* ***** ***** ****** discussed ***** ******** *** economy either ********** or ********** *** *** impact ** ***** **** up ** ***** *********** ****** H (2010)The ********* crisis: *** ** ** blame Polity ***** * & ***** * ****** *** ***** *** *********** democracy ********* *** ***** ** ****** Wall ************* ********* ***** ** * (2009)Liquidated: ** *********** ** **** ****** Duke University *****
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Tutor has posted answer for $40.00. See answer's preview
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Introduction
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*** more ******** *** ********* ***** individuals ****** out to ** **** ******* ** ******* **** turned *** ** ** **** ********** ** ** adjustment in certainty ********** **** purchasing ***** * ****** **** *** *** *** of ********** ****** on *** **** This ********* **** **** ** ** *** into shares expanding their quality ** is **** ***** **** numerous 'edge *********** ********* *********** **** *** **** ******** ******** by ********** ** the edge *** watching ***** ***** **** Be that as ** *** it ******* out financial specialists ********* ********* when ***** **** These **** ******* got ***** *** **** *** share trading ****** **** **** It ******** ********** those ***** *** ********* *********** who *** loaned **** ** ***** ********** ** the **** * ********* ** ******** individuals *** their involvement to the ******* ******** ********* ** ********** ******* **** ** American investor *** ********* ** April **** **** ** *** **** ** *** *** administrator *** *** *** ** Lehman ***** 1994 ** **** ** got **** * ** *** ** **** ******** ******* ********** **
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and *** **** Stern ****** ** ******** ** *** **** ** 1973 ** started his ********** **** Lehman ******** in **** *** stayed ** *** ************ ***** *** liquidation ** ******* as * ******** paper merchant *** **** ******* to the CEO ******** Having ****** ** the ************ *** * **** time ** ******* *** saw ******* advancements ***** *** *********** persisted ************* *** ************ with **** **** *** ************ with ** ****** its ********* ** ******** Express *** *** ********** twist *** **** ******** ******* ** *** *** ** *** *** ** Lehman ****** **** was the **** ever leading *** ** **** ****** among *** ****** ** ********* emergency in 2008 having ****** ** CEO ***** **** ** the season of the ************* ********* **** had ********** ****** completely ******* the ********* Crisis
**
**** * ***** where *** organization's assignment **** **** down ** *** ** **** Lehman *** ** ******** ********* ** $102 million ** 1993 *** **** **** *** to ** ***** ********* ******* the ************ had fourteen ******* ***** ** benefits ******** **** one ** *** ******* ** 2007 ******* *** fact **** in *** **** **** ** ******** * **** *** ********** *** ********** soon thereafter **** *** ********** ** ******* up the organization profit ******* *********** compel *** hazard Fuld *** * progression ***** *** ********* alluded ** ** chief ******* ******* *** the ********* *********** ****** *** ** ***** ** ** ******** 1996 when ** ******* * ***** battle with his ********** ** ** *********** ** *** ****** an ****** which abused Fuld's unwritten ********** ** ****** decorum and ********* ****** * ******* *** ******* **** were ***** co-COOs ** **** ** *** by **** *** downgraded ** the ********* ** the *** position in **** *** left in *** ********* year **** * ********* ***** ** **** ****** ******* **
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****** ******* assume *** ******** of *** *** ********* ******* was ********** ** **** *** was ********** by **** ****** * *** who ***** *** ****** through *********** *** ******** ******* **** the top CEO in *** personal **** ** ******* ****** *** same **** Fuld admitted **** *** ******** ** *** ***** *** organization **** ** ** ***** ** ********* ** ****** up ** ************ rundown ** *** ** **** ********* **** ** March **** and *** ***** ******** ******* ************ Fuld broadly requested ************* ** ********* surround *** *** showed *** own ** maintaining ***** * *** ** *** ****** ******** ** *** firm *************** ********** ****** ** edge **** got ******** *** ****** ***** **** ** the ********** subprime ******** emergency **** He was **** ** **** ******* little ** the ******** ** US ******* business ****** *** its consequences for ************ home **** **** ************ ******** ** *** as
**
*** the **** **** ******* *** ****** ** Wall ****** *** reserved his ********** ** *** subprime ******** emergency grabbed **** **** ** ******* *** not tolerating ****** **** ***** **** safeguarded *** **** ***** **** ********** ****** *** ***** ** ***** ** the **** *** New York ******** had ** alternate *********** ***** *** *** *** they expressed that Fuld *** ******** ******* **** * ********* **** *** **** ****** and notwithstanding ******** ** ****** ** *** to ********* the ***** ** *** company ** ******* 2008 ** *** a ********* **** ********* ** *********** with three criminal ************ ********** with *** ******* ********** ********* ********* **** *** ********* ** the firm ***** Greenspan ** an American ********* ****** ********* ** March * **** ** served ** Chairman ** *** ******* Reserve of the US from **** ** **** ** *** ***** director ** **** ******** ********** ********* *** ********* in New **** **** He
***
*** ************** ************ *** doctoral ******* in ********* ******* all **** *** York University ****** getting his ********* ** ************ on ********* matters at ******** University ** the mid ***** ***** Arthur ***** who ***** ***** get ** ** ************* ** *** ***** ** ********** *************** ***** ********** ** **** *** **** *** ******** ********** ********** Board * charitable *********** where ** ******** ******** *** ***** ******** *** copper From 1954 ** **** and from 1977 ** 1987 ********* was ************* *** ********* of ****************** and Co Inc *
financial
******** company ** *** **** City **** **** ** **** he ****** as ********* of the *************** ******* ** Economic ******** ***** ********* ****** **** and from **** ** **** ** administrator ** *** ******** ********** ** Social Security ****** *********** ** ****** as ** individual **** President ****** ************ Economic Policy ******** ***** *** was * ********** ** *** Congressional ****** ******* **** ***** ********* office ** ********* ** *** ***** ** Governors ********* *** confronted with *** ******* **** ********** ******** ***** and acted ******* to ********* ********* in the ******** ******* **** his ********* he ************ drove *** ******* Reserve through * few occasions with
*****
******** repercussions including *** ** ********** *** Asian ***** related ********* ** 1997 *** *** ********* ** **** ********* ******** ** had ********* *** being ************ ******* ********* concentrating more ** *********** ***** **** ** ********* **** ******** ******** *********** Greenspan *** *********** *** ******* ********* ******** extension ** US ******* ** *** additionally ***** *** *** aptitude ** building ****** among individuals from *** ******* **** ****** Committee on ******** ******* Robert Rubin ** ** American ****** conceived ** August 29 1938 **** ******* ** ***** ******** undertakings ** ***** joined *** ******* Administration ** 1993 ** ********* ** *** ********* *** ******** ****** *** ** Director ** *** recently made National Economic ******* ** *** ***
**
*********** ******** ******** ********* ** *** ********* and observed *** execution ** *** *************** ********* *********** ********** ** ******* **** ** ***** *** selected as *** ************* **** ********* of *** ******** He ****** *** **** *** **** ***** ***** **** **** where ** *** ******** ** ********* *** government ******** ***** ******* exchange ******** to ******* ************** ****** to **** ******** emergencies ** ****** **** *** ******* determining *** ******* **** ******* ******* ********** ********* *** ******** sensible ******* at the Internal Revenue ******** **** **** to **** Mr Rubin ****** ** an ********** **** *** Board ** Directors at Citigroup *** ** * senior consultant to *** ************ In **** limit ** worked ******* **** *** ***************** ********* ****** *** ***** ***** ** **** ** *** ******** parent ** **********
********
*********** **** ******** ************ fault for the ***** ******* ********* *** *** disappointment ** ***** ** **** ****** against **** Street in *** ****** ******** progressives ****** *** ********** *********** ******** ** Wall ****** back to ****** ****** Mazilo *** conceived in New York In **** ** *** * ********* ** ******* ****** from ******* ********** He *** *** ******** tutor David * **** *********** a Countrywide ****** industry ** *** York ***** *** ******** *********** *** * ******* ** *** ****** *** ****** non-bank
contract
******** Mozilo *** ************* ******* **** *** ****** of ****** borrowers and *** nature of ***** advances ** *** point **** ******** advances **** **** the scene in the **** ***** *** 1990s *** ************ *** *** ******* He ******** ******** *** subprime advance ************** ** *** ***** ** ****************** In *** **** his ************ ******* ** **** business ** *** ******** ************ He ****** ** ***** them or ******** losing piece ** *** ******* ******** (Hardt *** ***** ***** In this way ** *** mid ***** *********** ******* utilizing ******** ******* ****** *** **** ** shoulder *** fault *** *** ******** contract ********* *** ***** *** ** one ** *** ten **** ****** ****** ******* of 2008 money ******* ********* ** the ****** ******* Mozilo's pay amid *** ****** ****** ******* **** ** ********* ***** went ***** *********** *** ********* ************ **** ****** **** million ****** ******** ****** *** ** Committee on ********* ******* ******* ** ***** compensation ** ******** ************** ** **** ********* and ******** ** **** **** lost ******** **** ****
****
quite * while ** **** * **** ****** of dollars ** stock ******** *** utilized ***************** ****** ** ******** ***** ** ******* the offer cost ** *** ******* ** insider ********** *** ******** extortion ** **** Mozilo ********* to settle **** ******* ** ***** and ************ * ******** restriction **** ******* ** a ***** ** ******* ** any **** organization ***** ***** ** an American ************** conceived ** ******** ** 1934 He ** a ******** ***** ********* ******* ** **** ****** ** ****** into *** main Wall ****** boss to ***** ** organization stake ***** more than ** ******* ** **** ******* he **** *** vast ******** of **** **
*********
********* of bear ****** ***** *** **** *** whole ***** ** *** ************ *** $61 ******* ** turned **** *** ********* ** 1985 *** in 1993 *** ******** of *** ***** ** **** ***** ** yet ******* *** ******** ** CEO ** has **** *** ******* ** different ***** ******* ***** **** ********* ********* *** way that ** **** *** ***** ** the ************ *** *** ******* ***** his ********* ** ** ******** **** *** ********** ** Cayne's ******** *** dropped ** ***** *** ******* ************ ********** expelling him **** *** ******* ** *** ********** people in *** nation ***** **** his ***** stake ** **** ****** **** **** *** ******* ****** for $1082 ** ***** *** **** was **** ******
***
vote ** *** reestablished ***** ** ** ****** *** **** ****** He *** ***** in *** ******* ** ** *********** ** ***** for *** ***** ******* emergency ** Time ********* **** Thain ** ** ******** ************** ********* ** *** ** 1955 ** ** ************ * venture financier *** ******** ******** *** *** ** ******* Lynch before its merger **** Bank ** America ******* ***** He *** ********* ** venture down ***** a *** contentions *** example *** misfortunes at Merrill ***** *****
gave
** ** far ********* **** beforehand ******** and *** honor ** *** ******* ******** rewards ** got to be ***** official ** Merrill ***** ** **** at *** **** ** *** *********** ******** ********* ********** **** its ************ ** ******** ********* *** other awful securities *********** The ******* ****** **** ********* ***** *** * **** ** **** ** *** economic sector of *** ****** State ** ******* ***** *********** ** ******* ***** ********** has ******** *** ******* ** * ******** *** *** ******* **** ** **** Street ****** ******* ***** ****** in *** economy as *** ****** ****
paid
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*** ************* money Every ****** ********* ***** ******** the ******* ****** ********** ** ********** *** *** ****** ** ***** **** up to ***** *********** Davies H ********* ********* crisis: Who ** ** blame Polity ***** * ***** ***** A ****** The fight *** *********** ********* ********* *** ***** of ****** **** StreetForeign ********* ***** Ho * ***************** an *********** ** **** ****** Duke University *****